Though fairly new, ether has gained popularity to become one of the major cryptocurrencies besides Bitcoin and here is how you can get a piece of the action and buy your own.
There is a myriad of exchange sites that trade fiat currency such as dollars, pounds, euros etc., and Bitcoins for ether. To buy ether, you simply need a bank account or a debit/credit card that is approved for international transfers. You can then sign up on any of the online exchanges available and start buying once your account is verified, a process that is made simpler by the day.
Buying ether using Bitcoins
It is generally easier to use Bitcoins to acquire ether. This is because you do not have to go through any verification processes again since you will have already done this before trading in Bitcoins. This makes you a ready customer. All you have to do is open an ETH wallet and find an exchange site that can exchange Bitcoin to ether, some of which are discussed below.
Buy ether using a debit or credit card
For users who do not own Bitcoins, have no worries as there are exchange sites that let you buy ether using your credit card or a bank account that is approved for international transfers. Once you sign up you can start buying ether.
Poloniex
Poloniex offers the best exchange rate as it holds the largest trading volume globally. You can also buy ether using 63 other crypto-currencies on this platform, and it is well-suited for customers who would like to buy a large amount of ether since it offers the best liquidity. However, you cannot deposit fiat currency in case you wish to buy ether through your bank account or credit card. This is one of its main disadvantages.
Kraken
This is one of the largest Bitcoin exchange with one of the largest ETH/BTC markets available online. It is an excellent site for experienced users who know what they want and it offers several currency options. Additionally, it also supports fiat currency in case you would like to use a credit card or a bank account to buy ether. It comes with a bit of a technical user interface which may not be well suited for beginners.
Coinbase
This is one of the most highly site recommended for beginners because it is safe and really simple to use. Instead of trading on a market, Coinbase sells ether directly to you at a fixed price based on the market price. It also allows users to trade in Bitcoin and Litecoin, some of the other popular cryptocurrencies. Unfortunately, Coinbase monitors how you spend your cryptocurrency and charges slightly higher fees than some of its competitors.
Cryptocurrencies are considered one of the most recent disruptive technologies of our time. With the success of Bitcoin, other cryptocurrencies such as ether are following suit, making this industry more diverse. As is clear from above, buying is as easy as ABC, as long as you know where to look, since when dealing with any financial issues, it is prudent to ensure that you have all your bases covered.